Robert Menendez actually said...

There has been some discussion in this Committee about whether the private sector can fill in the gaps where Government has fallen short.

At some point all the efficiencies, all the cost savings, and all the reforms are simply not enough to make up for a lack of investment.

If we want to have safe system, we want to have reliable systems, and a country that is competitive, we have to make these investments.

I do not see how that can be a viable replacement for adequate public sector funding.